How effective was the Interstate Commerce Commission,the nation's first federal regulatory agency?
A) It was so weak in its early years that it served as little more than a historical precedent.
B) It had unprecedented power to clean up and regulate the railroads.
C) It was authorized to set interest rates for small-business loans.
D) It was so powerful initially that the Supreme Court declared it unconstitutional.

Question

Quizplus · Accepted Answer

While the Interstate Commerce Commission was the first federal regulatory agency, it lacked enforcement power and often struggled to regulate the powerful railroad industry. Its early years were marked by limited effectiveness, and it was not until the passage of the Hepburn Act in 1906 that the ICC gained more authority. However, its early years did establish a precedent for federal regulation of private industry.

How Effective Was the Interstate Commerce Commission,the Nation's First Federal